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republican reaction to the initial white house offer to resolve the fiscal cliff was anything but flattering. one republican called the offer an insult. both sides are digging in their heels on raising taxes on upper income earners. the white house proposal includes $1.6 trillion in taxes over a decade, 400 billion for medicare, 50 billion in stimulus spending and the end of congressional control over the debt ceiling. susan mcginnis is in washington with more. good morning to you. >> reporter: hey, terrell, good morning. the president's opening salvo there was not well received by republicans. they balked at his plan. he's taking his message to middle class americans at a factory that makes toys. it's a trip republicans are calling an irritant. president obama leaves the white house this morning to head to a toy factory in pennsylvania. he'll tell americans the fiscal cliff will cause holiday shopping to plummet. >> let's give a christmas present to the american people. >> reporter: but the mood here on capitol hill is anything but festive. both sides say the tax hikes and spending cuts due
republican reaction to the initial white house offer to resolve the fiscal cliff was anything but flattering. one republican called the offer an insult. both sides are digging in their heels on raising taxes on upper income earners. the white house proposal includes $1.6 trillion in taxes over a decade, 400 billion for medicare, 50 billion in stimulus spending and the end of congressional control over the debt ceiling. susan mcginnis is in washington with more. good morning to you. >>...
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major. >> reporter: scott, the first hard numbers from the white house to resolve the fiscal cliff crisis landed with a thud on capitol hill. congressional republicans called it an insulting joke. here's the big picture-- $4 trillion of deficit reduction over the next 10 years. it includes $1.6 trillion in higher taxes on households make manage more than $250,000. there's also $400 billion in cuts to entitlement programs, like medicaid and medicare, as well as others. there is also fresh new aending. $50 billion next year in stimulus spending, all for infrastructure. the white house calls this an opening bid. house republicans call it a rehash of old ideas and also object to the idea of a white house asking a permanent legislative remedy to raising the debt ceiling, all of it, the republicans say rather, is unacceptable. now much of this was conveyed in a 28-minute phone conversation yesterday between president obama and house speaker john boehner. both sides describe that conversation, scott, as direct and candid. those are words custom early reserved for diplomacy between sworn adversar
major. >> reporter: scott, the first hard numbers from the white house to resolve the fiscal cliff crisis landed with a thud on capitol hill. congressional republicans called it an insulting joke. here's the big picture-- $4 trillion of deficit reduction over the next 10 years. it includes $1.6 trillion in higher taxes on households make manage more than $250,000. there's also $400 billion in cuts to entitlement programs, like medicaid and medicare, as well as others. there is also fresh...
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Nov 29, 2012
11/12
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it will be such a shock to the system that it has been called the fiscal cliff. our coverage starts on the white house lawn tonight with major garrett. major. >> reporter: scott, the saesident said for the first time, there is a two-step process to averting the fiscal cliff. republicans must act now to prevent a tax increase for households earning less than $250,000. do that now, president obama said, and he and congress can work out the details of spending cuts later. ( applause ) before a crowd of supporters, the white house invited from the mid-atlantic region, president obama put congressional republicans on notice. >> it's too important for washington to screw this up. now is the time for us to work on what we all agreed to, which is lets keep middle class taxes low. that's what our economy needs. that's what the american people deserve. gd if we get this part of it right, then a lot of the other issues surrounding deficit reduction in a fair and balanced, responsible way are going to be a whole lot easier. >> reporter: white house officials say mr. obama is
it will be such a shock to the system that it has been called the fiscal cliff. our coverage starts on the white house lawn tonight with major garrett. major. >> reporter: scott, the saesident said for the first time, there is a two-step process to averting the fiscal cliff. republicans must act now to prevent a tax increase for households earning less than $250,000. do that now, president obama said, and he and congress can work out the details of spending cuts later. ( applause ) before...
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Nov 30, 2012
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fiscal cliff. >> republicans call it an insulting joke. >> the biggest stumbling block remains, new taxes on the wealthiest americans. >> that's what the president suggested. >>> ladies and gentlemen, the fiscal -- cliff! >> lottery officials will introduce the holder of one of the two winning jackpot tickets today. >> i'm very happy for him. he has worked very hard in his life and won't have to any more. >> the other big winner in arizona remains a mystery. >> the ticket holder may be all the way across this country in maryland. surveillance video shows a man who purportedly just found out that he wan on. >> now asking that person to come forward, show his ticket and bring your papers. >> lindsay lohan went to jail just to stay dry. >> whipped out his membership card. >> beau obama, inspecting the white house christmas decorations. >>> are you kidding me? >> never has drew brees thrown foiv interceptions and atlanta will survive. >>> an act of kindness by a new york cop going viral. tourist taking this photo of police officer larry deprimo giving boots to a homeless man. >> absolutely hu
fiscal cliff. >> republicans call it an insulting joke. >> the biggest stumbling block remains, new taxes on the wealthiest americans. >> that's what the president suggested. >>> ladies and gentlemen, the fiscal -- cliff! >> lottery officials will introduce the holder of one of the two winning jackpot tickets today. >> i'm very happy for him. he has worked very hard in his life and won't have to any more. >> the other big winner in arizona remains a...
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Dec 5, 2012
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a new poll found more half of americans will blame republicans if we go over the fiscal cliff. >> republicans do not want to touch one hair on the head of one person making over $250,000. that is the rub. >> they've got to come with some specific revenue. they refuse to do that. >> reporter: even other republicans are split on john boehner's plan to avoid tax hikes all together and admit negotiations are going nowhere. >> nothing going on privately that's not going on publicly. >> reporter: republicans say the president needs to meet them halfway. >> he's got to be serious. he's offered more spending, more stimulus than offering any new cuts. >> reporter: and they insist there's good reason why people making over $250,000 a year should not pay more. >> when you raise tax rates, you're impacting the small businesses that create the jobs in this country. >> reporter: the back and forth is unsettling for the nation's governors, democrats and republicans came to washington tuesday with one message. >> you've got the to come together and get this done. >> reporter: and better do it quickly because
a new poll found more half of americans will blame republicans if we go over the fiscal cliff. >> republicans do not want to touch one hair on the head of one person making over $250,000. that is the rub. >> they've got to come with some specific revenue. they refuse to do that. >> reporter: even other republicans are split on john boehner's plan to avoid tax hikes all together and admit negotiations are going nowhere. >> nothing going on privately that's not going on...
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Dec 4, 2012
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the president and his negotiators have told republicans there won't be a fiscal cliff deal without that tax increase. the white house today dismissed that counteroffer as nothing new and urged republicans to "get serious about the fiscal cliff negotiations." but, scott, that's exactly what republicans were saying about the president on friday. >> pelley: wyatt, thank you. the president has not decided whether to order an end to a strike that has crippled traffic at the nation's two busiest seaports. the ports of los angeles and long beach shut down after a few dozen clerical workers walked off the job and dock workers refused to cross their picket line. bill whitaker has the latest. >> reporter: 11 huge cargo ships are stuck offshore, piled high with containers of food, toys, lumber. 14 others sit untouched at the docks. >> if you guys could start handing the fliers out. >> reporter: transporters, wholesalers and retailers are growing angst. ingrid lazcano, owner of andean dream, imports quinoa, popular right now in the u.s. her last shipment was diverted to mexico, another was diverted
the president and his negotiators have told republicans there won't be a fiscal cliff deal without that tax increase. the white house today dismissed that counteroffer as nothing new and urged republicans to "get serious about the fiscal cliff negotiations." but, scott, that's exactly what republicans were saying about the president on friday. >> pelley: wyatt, thank you. the president has not decided whether to order an end to a strike that has crippled traffic at the nation's...
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fiscal cliff is not cutting spending. it's about preventing a tax increase that preventing spending cuts. now the republican arguement is more complicated. to use the deadline, legitimate argument. i agree with it in principle. use the deadline to get the longer range spending cuts. the president can say fine, i want to negotiate those next year. can't do it in three weeks. incidentally, speaker boehner what medicare cuts are you for, he will say? if the republican position, the republicans campaigned against $716 million in medicare cuts from the current program. republicans for medicare reform. not for squeezing the current program. they will say i want to give the middle class, make sure the middle class tax rate stay where they are. i don't want the republicans to squeeze medicare more than we did, have done in the past. i'm worried. that the president has an awful lot of leverage. >> bret: but you have the democrats, juan, like mike pryor of arkansas who told politico this -- "as you know people around here like the
fiscal cliff is not cutting spending. it's about preventing a tax increase that preventing spending cuts. now the republican arguement is more complicated. to use the deadline, legitimate argument. i agree with it in principle. use the deadline to get the longer range spending cuts. the president can say fine, i want to negotiate those next year. can't do it in three weeks. incidentally, speaker boehner what medicare cuts are you for, he will say? if the republican position, the republicans...
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Dec 5, 2012
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we begin with negotiations to avert the so-called fiscal cliff both republicans and white house hold their lines and no formal talks yesterday. president obama said he wasn't ruling out some reductions in entitlement programs such as medicare and social security, meanwhile house speaker john boehner has to win over hard liners in his own party. susan mcginnis is following it all. >> reporter: hi. good morning. there are some glimmers of common ground here among the two sides that could form the basis of a deal. the president is now talking about actually lowering the tax rate for the top 2% not now but later. and republicans are now taking some heat over their latest plan a lot of it from within their own party. >> five, four -- >> reporter: house speaker john boehner led the countdown to the lighting of the capitol hill christmas tree last night. >> one. >> reporter: but a different countdown weighs on the minds of these lawmakers, the countdown to the fiscal cliff. a series of tax increases and spending cuts due to kick in at the end the year. >> god bless us, everyone. >> reporter
we begin with negotiations to avert the so-called fiscal cliff both republicans and white house hold their lines and no formal talks yesterday. president obama said he wasn't ruling out some reductions in entitlement programs such as medicare and social security, meanwhile house speaker john boehner has to win over hard liners in his own party. susan mcginnis is following it all. >> reporter: hi. good morning. there are some glimmers of common ground here among the two sides that could...
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but republicans warned that efforts to avoid the fiscal cliff are deadlocked. and thousands of egyptians protested against president morsi's new powers and against a draft constitution pushed through by islamists. what do you get when you cross economic news and surf rock? i have a feeling paul solman is involved. hari sreenivasan gives us the answer. >> sreenivasan: our resident financial bard "merle hazard" re-imagines the fiscal cliff debate as a 1960s-style drag race between party leaders. you can watch his animated music video on paul's "making sense" page. we're introducing a new feature- - feed your science diet with "lunch in the lab," a virtual platter of science news, delivered fresh every monday, wednesday and friday. today's daily special-- the mars rover rumors. and on "need to know" tonight, an encore report about an investigation into alleged abuses by u.s. border patrol officers. all that and more is on our web site, newshour.pbs.org. >> warner: and again to our honor roll of american service personnel killed in the afghanistan conflict. we add
but republicans warned that efforts to avoid the fiscal cliff are deadlocked. and thousands of egyptians protested against president morsi's new powers and against a draft constitution pushed through by islamists. what do you get when you cross economic news and surf rock? i have a feeling paul solman is involved. hari sreenivasan gives us the answer. >> sreenivasan: our resident financial bard "merle hazard" re-imagines the fiscal cliff debate as a 1960s-style drag race between...
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. >> 4:49 right now. 29 days before we reach the fiscal cliff. republicans and democrats are locked in a war of words. negotiators are meeting behind closed doors to hash out a deal. president obama tried to put more pressure on republicans on thursday. he visited a family in virginia to highlight the impact of government spending cuts on the middle class. >> because democrats and republicans are not coming together to solve this problem -- >> republicans say they will support raising revenue by closing loopholes. >> therightward legislation. -- has pushed forward a right to work legislation. union activists shouted during the debate. several were arrested. the legislation prevents unions and from collecting fees from non-union workers. michigan's governor said he will sign the bill. >> 4:51 right now. up next, a new role for >> 4:53. let's take a look at weather. clacks good morning. we have a damp start to some areas. not much in the district, to the southeast. this is all very light. a little bit of paint showing at the mason dixon line. a lit
. >> 4:49 right now. 29 days before we reach the fiscal cliff. republicans and democrats are locked in a war of words. negotiators are meeting behind closed doors to hash out a deal. president obama tried to put more pressure on republicans on thursday. he visited a family in virginia to highlight the impact of government spending cuts on the middle class. >> because democrats and republicans are not coming together to solve this problem -- >> republicans say they will support...
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cliff." >> reporter: three republican and three democratic governors gate the president their take on how to avoid the "fiscal cliff" this morning at the white house. >> we're not sort of saying it should be that plan or that plan. i think what we all agree on is something has to get done. >> as governors we think it's important that we're part of the discussions both in terms of the impact it has on our finances and our economies. >> reporter: state government cost lose much-needed federal aid if democrats and republicans don't reach a deal to stop automatic spending cuts before the end of the year. the other issue is taxes. congressional republicans want bush-era tax cuts extended for all americans. president obama says those tax cuts must expire for households making $250,000 or more. >> it's a position that is supported by a majority of the american people. and, you know, we need to see from republicans an acknowledgement of that. >> reporter: the gop proposal that the white house quickly rejected closes tax loopholes and reduces deductions to raise 800 billion-dollar in new reven
cliff." >> reporter: three republican and three democratic governors gate the president their take on how to avoid the "fiscal cliff" this morning at the white house. >> we're not sort of saying it should be that plan or that plan. i think what we all agree on is something has to get done. >> as governors we think it's important that we're part of the discussions both in terms of the impact it has on our finances and our economies. >> reporter: state...
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. >>> from nowhere to nonstarter, house republicans pitch their plan to avoid the fiscal cliff and like the president's plan they don't expect to win over the opposition. a sfl senate fight. will republicans reject a personal plea from their former leader bob dole. he's making a rare visit to the senate floor to make his case. and now that we've had a whole month to digest that election day data, where you'll find those who voted for every presidential winner since 1956. that's in today's deep dive. i'm chuck todd feeling a little clogged up as you might hear. the fiscal cliff counteroffer has one thing in common. the differences between the new republican plan and what the white house proposed are stark when it comes to taxes. the gop calls for $800 million in new taxes. it's half of what the white house asked for. republicans to $67 billion. the gop plan changes how security benefits would be calculated. why he favors tax rates instead of eliminating deductions. not enough revenue. less revenue equals more cuts in education. republicans ruled that out saying the new revenue would not
. >>> from nowhere to nonstarter, house republicans pitch their plan to avoid the fiscal cliff and like the president's plan they don't expect to win over the opposition. a sfl senate fight. will republicans reject a personal plea from their former leader bob dole. he's making a rare visit to the senate floor to make his case. and now that we've had a whole month to digest that election day data, where you'll find those who voted for every presidential winner since 1956. that's in...
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and if we don't go off the fiscal cliff, the republicans will get blamed from their right wing base for capitulating. so they're in a damned if you do, damned if you don't position. the president has strong hand here. >> you mentioned medicare. let's focus on entitlement reform here specifically. this was congressman eric cantor this afternoon. take a listen. >> what we've always said is we want to fix the problem. we want to make sure that we get a handle on these unfunded obligations, connect it with the sbilgtszment programs. we want to stop the spending problem so we can then go about trying to manage down the debt and deficit. >> nbc's first read made this point. the white house is sending the message that if republicans want entitlement reform, they're the ones who will have to propose it. how much of this is about getting the gop to do some of the dirty work on a sticky issue for democrats? >> i think that is a very big part of it. look, nobody -- we just went through a campaign in which medicare, the ryan budget, and changes to medicare and cuts out of medicare were such a huge
and if we don't go off the fiscal cliff, the republicans will get blamed from their right wing base for capitulating. so they're in a damned if you do, damned if you don't position. the president has strong hand here. >> you mentioned medicare. let's focus on entitlement reform here specifically. this was congressman eric cantor this afternoon. take a listen. >> what we've always said is we want to fix the problem. we want to make sure that we get a handle on these unfunded...
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. >> are the media cheering for a leap off the fiscal cliff? >> republicans are committed to continuing to work with the president to come to an agreement to avert the so-called fiscal cliff. >> as both sides in washington try to hammer out agreements on taxes and fiscal spending, they get the full media treatment as the press try to pin the blame on the g.o.p. is it working? details next on news watch. [ male announcer ] take dayquil... [ ding! ] ...and spend time on the slopes. take alka-seltzer plus cold & cough... [ buzz! ] ...and spend time on the chair. for non-drowsy 6-symptom cold & flu relief. take dayquil. use nyquil d... [ ding! ] ...and get longer nighttime cough relief. use tylenol cold multisymptom nighttime... [ coughs ] [ buzz! ] [ screams ] ...and you could find yourself... honey? ...on the couch. nyquil d. 50% longer cough and stuffy nose relief. . >> our ultimate goal is an agreement that gets our long-term deficit under control in a way that's fair and balanced. and that kind of agreement would be good for our businesses, it
. >> are the media cheering for a leap off the fiscal cliff? >> republicans are committed to continuing to work with the president to come to an agreement to avert the so-called fiscal cliff. >> as both sides in washington try to hammer out agreements on taxes and fiscal spending, they get the full media treatment as the press try to pin the blame on the g.o.p. is it working? details next on news watch. [ male announcer ] take dayquil... [ ding! ] ...and spend time on the...
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>> reporter: scott, leading republicans are now calling the president's latest fiscal cliff proposals-- and these are quotes-- "unreasonable, not serious even ludicrous." on the negotiations that are necessary to avoid the cliff, here's how house speaker john boehner described the status there. >> no, there's a stalemate. let's not kid ourselves. i'm not trying to make this more difficult. >> reporter: what set off this reaction was the president's proposal for $1.6 trillion in new taxes over ten years with tst of that coming from a tax hike on single americans making hire than $200,000 and married couples filing jointly making $250,000. boehner has hinted that republicans might raise half of that, $800 billion, but only by reducing tax loopholes. >> getting rid of special interest deductions and not raising rates we think is better for the economy, pure and ecole. >> reporter: there is also a gap on spending cuts. yemocrats say they've already agreed to cut one trillion dollars from future spending, republicans, including majority leader eric cantor, responded with this: >> all of a
>> reporter: scott, leading republicans are now calling the president's latest fiscal cliff proposals-- and these are quotes-- "unreasonable, not serious even ludicrous." on the negotiations that are necessary to avoid the cliff, here's how house speaker john boehner described the status there. >> no, there's a stalemate. let's not kid ourselves. i'm not trying to make this more difficult. >> reporter: what set off this reaction was the president's proposal for $1.6...
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. >> are the media cheering for a leap off the fiscal cliff? >> republicans are committed to continuing to work with the president to come to an agreement to avert the so-called fiscal cliff. >> as both sides in washington try to hammer out agreements on taxes and fiscal spending, they get the full media treatment as the press try to pin the blame on the g.o.p. is it working? details next on news watch. [ male announcer ] in blind taste tests, even ragu users chose prego. prego?! but i've bought ragu for years. [ thinking ] woer what other questionable choices i've made? i choose date number 2! whooo! [ sigh of relf ] [ male announcer ] choose taste. choose prego. i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way to get a holiday deal is to camp out. you know we've been open all night. is this a trick to get my spot? [ male announcer ] break from the holiday stress. save on ground shipping at fedex office. share "not even close." share "you owe me..." share "just right." the share everything p
. >> are the media cheering for a leap off the fiscal cliff? >> republicans are committed to continuing to work with the president to come to an agreement to avert the so-called fiscal cliff. >> as both sides in washington try to hammer out agreements on taxes and fiscal spending, they get the full media treatment as the press try to pin the blame on the g.o.p. is it working? details next on news watch. [ male announcer ] in blind taste tests, even ragu users chose prego....
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this fiscal cliff. the republicans, as i mentioned, they are not mounting any kind of response to the charge by the administration. >> not surprising. the republicans have been known for as long time as the stupid party, they are a hot mess, they came out of this elect on the losing end, they have done nothing to try to regroup, this affects every american's life and pocketbook, they still can't get it together with a coherent message based on their core principals, economic freedom, and liberty, if you can't stand for those, and fight for them, they have no business being one of the two major political parties. >> monica is right, the republicans have allowed obama to ccntrol the debate, we have the morale high ground and our plan, obama in 2011 talking about tax reform said we can -- we don't have to raise tax rates, we can lower tax rates by capping deducts. he said that. lou: where is coordinated action and rhetoric from the party? i'm talking about from mayors to governors. >> we have been great wi
this fiscal cliff. the republicans, as i mentioned, they are not mounting any kind of response to the charge by the administration. >> not surprising. the republicans have been known for as long time as the stupid party, they are a hot mess, they came out of this elect on the losing end, they have done nothing to try to regroup, this affects every american's life and pocketbook, they still can't get it together with a coherent message based on their core principals, economic freedom, and...
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. >> are the media cheering for a leap off the fiscal cliff? >> republicans are committed to continuing to work with the president to come to an agreement to avert the so-called fiscal cliff. >> as both sides in washington try to hammer out agreements on taxes and fiscal spending, they get the full media treatment as the press try to pin the blame on the g.o.p. is it working? details next on news watch. okay, here's the plan. you have a plan? first we're gonna check our bags for free, thanks to our explorer card. then, the united club. my motr was so wrong about you. next, we get priory boarding on our flight i booked with miles. all because of the card. and me. okay, what's the plan? plan? mm-hmm. we're on vacation. there is no plan. really? [ male announcer ] the united mileageplus explorer card. the mileage card with speci perks on united. get it and you're in. why does my mouth feel dryer than i remember it to be? there are more people taking more medication, so we see people suffering from dry mouth more so. we may see more cavities, bad b
. >> are the media cheering for a leap off the fiscal cliff? >> republicans are committed to continuing to work with the president to come to an agreement to avert the so-called fiscal cliff. >> as both sides in washington try to hammer out agreements on taxes and fiscal spending, they get the full media treatment as the press try to pin the blame on the g.o.p. is it working? details next on news watch. okay, here's the plan. you have a plan? first we're gonna check our bags...
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a looming fiscal cliff and what are we hearing? as republican senator jeff sessions says -- >> a lot of flimflam. >> flimflam. we told you last night that treasure secretary tim geithner hopscotched his way down pennsylvania avenue to bring the president's proposal from the white house to capitol hill and instead of offering compromise, he leapt to the extreme. in case you forgot, here's what his plan does. his plan taxes $1.6 trillion of taxes. higher tax rates on people, families making more than $250,000 as well as closing loopholes, limiting deductions, raising the estate tax rate and increasing the taxes on capital gains and dividends. and the plan spends nearly $200 billion. another stimulus package of 50 billion. an extension of unemployment insurance benefits estimated around $30 billion and an extension of the payroll tax cut estimated at about $114 billion. but the geithner plan didn't cut spending. in return for all of that, the president offered $400 billion in cuts to medicare and other entitlement programs. today john
a looming fiscal cliff and what are we hearing? as republican senator jeff sessions says -- >> a lot of flimflam. >> flimflam. we told you last night that treasure secretary tim geithner hopscotched his way down pennsylvania avenue to bring the president's proposal from the white house to capitol hill and instead of offering compromise, he leapt to the extreme. in case you forgot, here's what his plan does. his plan taxes $1.6 trillion of taxes. higher tax rates on people, families...
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republicans and democrats are fighting about the fiscal cliff. we'll talk about today's developments, where we are, where we could be. the fox all-stars when we return. ♪ [ male announcer ] this is karen and jeremiah. they don't know it yet, but they're gonna fall in love, get married, have a couple of kids, children laughing ] move to the country, d live a long, happy life together where they almost never fight about money. [ dog barks ] because right after they get married, they'll find some retirement people who are paid on salary, not commission. they'll get straightforward guidance and be able to focus on other things, like each other, which isn't rocket science. it's just common sense. from td ameritrade. >>> speaker boehner was at the white house for a christmas party. the two of you didn't speak. what is it going to take to get the two of you in a room to hash this out? >> speaker bane been a and i speak frequently. i don't -- speaker boehner and i speak frequently. the issue doesn't have to sit in a room. the issue that is relevant is
republicans and democrats are fighting about the fiscal cliff. we'll talk about today's developments, where we are, where we could be. the fox all-stars when we return. ♪ [ male announcer ] this is karen and jeremiah. they don't know it yet, but they're gonna fall in love, get married, have a couple of kids, children laughing ] move to the country, d live a long, happy life together where they almost never fight about money. [ dog barks ] because right after they get married, they'll find...
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to go off the fiscal cliff? >> if republicans are not willing to let rates go back up, and we think they should go back to the clinton levels, a time when the economy was doing exceptionally well, then there will not be an agreement. >> let's go to the other side. republican house speaker john boehner also digging in, admitting that talks are going nowhere. speaker boehner also describing the moment when geithner first showed him the president's opening offer. >> i was flabbergasted. i looked at him, i said, "you can't be serious." i've just never seen anything like it. you know, we've got seven weeks between election day and the end of the year. and three of those weeks have been wasted with this nonsense. right now i would say we're nowhere, period. we're nowhere. we've put a serious offer on the table by putting revenues up there to try to get this question resolved. but the white house has responded with virtually nothing. they've actually asked for more revenue than they've been asking for the whole entire
to go off the fiscal cliff? >> if republicans are not willing to let rates go back up, and we think they should go back to the clinton levels, a time when the economy was doing exceptionally well, then there will not be an agreement. >> let's go to the other side. republican house speaker john boehner also digging in, admitting that talks are going nowhere. speaker boehner also describing the moment when geithner first showed him the president's opening offer. >> i was...
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because i think we know the solution to the fiscal cliff that both republicans and democrats can agree on is nonexistent. ( laughter ). so personally, i saluteppp for turning statistical analysis into an episode of jay walking. they are not the only politicos up there make things up. so is congress, where paranoid fantasy has long been eye key weapon in fighting the specter of accomplishiment. and there was another victory yesterday. >> the senate just now has managed to vote on something. they rejected a treaty to extend right to the blind and disabled, rights that have been the laws in the united states since 1990. the vote in the senate was bipartisan in support. they needed 66 votes, and it failed. >> stephen: it's a christmas miracle! no rights for disabled foreigners! suck on that, piggy puddy tiny tim. you and the rest of the great britain crutch crowd can eat your goose on the stairs. but how do you defeat something with such broad bipartisan support? john mccain was for it. george h.w. bush was for it. even former republican presidential nominee and disabled world war ii veter
because i think we know the solution to the fiscal cliff that both republicans and democrats can agree on is nonexistent. ( laughter ). so personally, i saluteppp for turning statistical analysis into an episode of jay walking. they are not the only politicos up there make things up. so is congress, where paranoid fantasy has long been eye key weapon in fighting the specter of accomplishiment. and there was another victory yesterday. >> the senate just now has managed to vote on...
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six governors, democrats, and republicans weigh in on the fiscal cliff today. what will they tell president obama about the spending cuts and tax increases now just 28 days away? >> we must reign in our out of control spending. >> reporter: republicans have an offer, $800 billion in new taxes, half what the president wanted. $600 billion saved in part by making americans wait until they're 67 to get medicare. plus more cuts totalling $2.2 trillion. but no tax hikes for the wealthy. >> that's just not going to happen. >> reporter: the pentagon could take the biggest hit from president obama told defense experts monday, don't worry. >> even as we make very tough fiscal choices, we're going to keep investing in these programs. >> reporter: he went online on youtube and twitter explaining why he thinks the rich should pay more. going over the fiscal cliff could cost america jobs. >> we're only expanding 2% right now. it needs to be considerably higher to bring more people off unemployment. >> reporter: for the jobless, president obama is asking congress for million
six governors, democrats, and republicans weigh in on the fiscal cliff today. what will they tell president obama about the spending cuts and tax increases now just 28 days away? >> we must reign in our out of control spending. >> reporter: republicans have an offer, $800 billion in new taxes, half what the president wanted. $600 billion saved in part by making americans wait until they're 67 to get medicare. plus more cuts totalling $2.2 trillion. but no tax hikes for the wealthy....
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we only have less than a month before the so-called fiscal cliff and house speaker boehner said congressional republicans are "nowhere in talks with the white house." they are trying. good morning. i'm jamie colby. great to have you here. welcome to america's news headquarters. >> eric: i'm eric shawn. good morning. in an exclusive interview with "fox news sunday," speaker boehner says negotiations are at a standstill. this is as treasury secretary tim geithner says the president is ready for what he calls difficult concessions. mr. boehner says he was flabbergasted at the white house stance on what they say needs to be done. peter doocy has details this morning on the latest developments from washington. good morning, peter. >> good morning, eric. spieger boehner said negotiations are nowhere, period and he called treasury secretary tim geithner's presentation of the white house proposal to avoid the fiscal cliff earlier in week "nonserious." >> i was flabbergasted. i lookedded a him like you can't be serious. i've just never seen anything like it. you know we have seven weeks between electi
we only have less than a month before the so-called fiscal cliff and house speaker boehner said congressional republicans are "nowhere in talks with the white house." they are trying. good morning. i'm jamie colby. great to have you here. welcome to america's news headquarters. >> eric: i'm eric shawn. good morning. in an exclusive interview with "fox news sunday," speaker boehner says negotiations are at a standstill. this is as treasury secretary tim geithner says...
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that if it goes over the fiscal cliff republicans are prepared to make the middle class pay more tax paying more. and that is a very bad position for the republicans to find themselves in isn't it? >> sit a very bad position for them to find themselves in. the fact of the matter is, it isn't true. the taxes on the wealthiest americans, it doesn't address the core problems. the $16 trillion comes from government over spending and we have slow growth. raising the taxes on anybody whether it is on the poor or the other americans doesn't solve the problem. let's get in and figure out what the key problems are and solve those. i made an analogy earlier to giving a kid more allowance. i stopped paying them. >> i mean un believable. so kate, middleton, is in hospital with this morning sickness and revealed that she is pregnant and some dumb aussie dejay rings up with this accent and they think it is the queen of england land. have you ever heard of something so ludicrous? >> i thought it was you. >> of all the problems in the world this is not the most serious one. >> obviously, they are no
that if it goes over the fiscal cliff republicans are prepared to make the middle class pay more tax paying more. and that is a very bad position for the republicans to find themselves in isn't it? >> sit a very bad position for them to find themselves in. the fact of the matter is, it isn't true. the taxes on the wealthiest americans, it doesn't address the core problems. the $16 trillion comes from government over spending and we have slow growth. raising the taxes on anybody whether it...
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so far - no een >>> tensions over tax hikes and spending cuts have left the "fiscal cliff" talks all but frozen. so far no face-to-face meetings have been scheduled between the democrats and republicans. cbs reporter danielle nottingham with the president's push now to sell his plan to american businesses. >> reporter: president obama asked business leaders this morning to support his plan to prevent a fiscal crisis. >> let's allow higher rights to go up for the top 2%, that includes all of you, yes, but not in any way that's going to affect your spending, your lifestyles. >> reporter: if no deal is reached between democrats and republicans before the end of the year, taxes will go up for everyone and automatic spending cuts will kick in. the president wants bush-era tax breaks to expire for households making $250,000 or more. republicans are adamantly opposed to that. >> closing loopholes, especially on those who are wealthy, is a better way to raise this revenue than raising rates. >> reporter: republicans are also pressing their case with the public. house gop leaders invited smal
so far - no een >>> tensions over tax hikes and spending cuts have left the "fiscal cliff" talks all but frozen. so far no face-to-face meetings have been scheduled between the democrats and republicans. cbs reporter danielle nottingham with the president's push now to sell his plan to american businesses. >> reporter: president obama asked business leaders this morning to support his plan to prevent a fiscal crisis. >> let's allow higher rights to go up for the...
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the fiscal cliff, and the american people will hold them responsible. democrats also take issue with the proposal's spending cuts to medicare and social security. republican counter that tough cuts are needed to tackle the soaring debt, leaving washington locked in a stalemate, less than a month before every american sees their taxes shoot up. the gridlock has irritated people outside washington, like deborah page of arlington, texas. >> if i was working the way the president and congress was working, i would probably lose my job. >> reporter: page started a petition that would cease paychecks and health benefits for all members of congress and president obama if they can't avoid the fiscal cliff. the petition's chances are slim. but it's a reflection of americans' frustration with 28 days left. rob and paula? >> tahman bradley live in washington today. thank you, tahman. >>> and as talks over the fiscal cliff drag on, a new poll finds that most americans do not think very highly of congress. one in ten americans rate the honesty and ethical standards o
the fiscal cliff, and the american people will hold them responsible. democrats also take issue with the proposal's spending cuts to medicare and social security. republican counter that tough cuts are needed to tackle the soaring debt, leaving washington locked in a stalemate, less than a month before every american sees their taxes shoot up. the gridlock has irritated people outside washington, like deborah page of arlington, texas. >> if i was working the way the president and congress...
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this fiscal cliff thing, the problem with the republicans, larry, is that they have been boxed in by the democrats into a difficult position where the polls confirm that the public in america believe that the reason that president obama is going to win the debate is because, come the fiscal cliff moment, that if he goes over, that they are going to save the backsides of the wealthy 2% of americans. i probably shouldn't but i do. >> speaking as a reagan conservative, i must say i rather agree with you. probably shouldn't. but i do. i think divided government is very difficult. and there's some principles that speaker boehner is fighting for, with which i actually agree. but i think politically, the risk here for the gop, is they've become the party of rich people. and they give up the middle-class to the democrats. and i think you saw some of that in the presidential election. i don't think that's their intent. i think their tax reform intent is quite sound. but the way this is playing out, i think that's a big risk for them. >> they're becoming the party of rich, white, older men, is
this fiscal cliff thing, the problem with the republicans, larry, is that they have been boxed in by the democrats into a difficult position where the polls confirm that the public in america believe that the reason that president obama is going to win the debate is because, come the fiscal cliff moment, that if he goes over, that they are going to save the backsides of the wealthy 2% of americans. i probably shouldn't but i do. >> speaking as a reagan conservative, i must say i rather...
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to avoid falling over this fiscal cliff. this week the president sent over his plan to republicans. there was $1.5 trillion in tax increases and an additional 50 billion in stimulus spending. republicans were not happen wet offer. john boehner called the plan bait and switch and minority leader much mcconnell made him burst into laughter. >> across the globe today is world aids day, the white house marking the event by displaying a red ribbon on the north portico, a life picture of the white house, an international show of support and awareness, in a proclamation president obama says in part that the united states is committed to preventing the disease is quote, spending and ending this pandemic once and for all. >> do same-sex couples have a constitutional right to mayor? we don't know yet. the u.s. supreme court held a closed-door meeting to decide whether to hear a series of appeals. but they didn't say if they will take action on the divisive issue. some took this as a sign that nine justices need more time. we expect an
to avoid falling over this fiscal cliff. this week the president sent over his plan to republicans. there was $1.5 trillion in tax increases and an additional 50 billion in stimulus spending. republicans were not happen wet offer. john boehner called the plan bait and switch and minority leader much mcconnell made him burst into laughter. >> across the globe today is world aids day, the white house marking the event by displaying a red ribbon on the north portico, a life picture of the...
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he'll try to convince the american people the best way to avoid the fiscal cliff is to extend the bush era tax cuts for the middle class. >> it's too important for washington to screw this up. >> reporter: president obama is putting pressure on congressional republicans and he's enlisting middle class americans in getting the gop to take action on taxes. >> when the american people speak loudly enough, lo and behold congress listens. >> reporter: tomorrow he'll host a campaign style event where he calls on lawmakers to extend the tax rates on families making less than $250,000 a year. once that's done they can work on other details such as spending cuts and changes to the tax code, medicare and medicaid. >> he's out there campaigning for his position. i get it. we understand it. at the end of the day he has to lead on this issue. >> reporter: some republican lawmakers have said they are willing to compromise on the tax issue. oklahoma representative tom cole said the gop should sign off on the middle class extension. but house speaker john boehner isn't ready to budge yet. >> it will h
he'll try to convince the american people the best way to avoid the fiscal cliff is to extend the bush era tax cuts for the middle class. >> it's too important for washington to screw this up. >> reporter: president obama is putting pressure on congressional republicans and he's enlisting middle class americans in getting the gop to take action on taxes. >> when the american people speak loudly enough, lo and behold congress listens. >> reporter: tomorrow he'll host a...
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he says the white house is prepared to go over the fiscal cliff if republicans don't give in on higher taxes on the wealthy. you can see we're weighted to the up side by a ratio of 8:1 at the moment. finland is not trading today, so you may see some quotes not doing very well. we saw apple stock having the biggest loss in four years. the ftse yesterday slim gains really. up 0.4%, the dax up a quarter of a percent. is this a this is where we stand as we wait for the announcements from the ecb. we're up at a 52 week high for the xetra dax. cac 40 up half a percent and ibex up half a percent, as well. take a look at bond yields. we looked at that auction yesterday from spain. they raised 4.3 billion. years went lower. nevertheless spanish yields today 5.4%, slightly lower from where we closed, but they did move up substantially after a handle of 5.2. we'll keep our eye on gilts, as well. we'll look ahead to the bank of england. nothing expected from them, of course. 1.8%. david miles was the only man who voted for more qe at the last meeting. as far as currency rates are concerned, euro-d
he says the white house is prepared to go over the fiscal cliff if republicans don't give in on higher taxes on the wealthy. you can see we're weighted to the up side by a ratio of 8:1 at the moment. finland is not trading today, so you may see some quotes not doing very well. we saw apple stock having the biggest loss in four years. the ftse yesterday slim gains really. up 0.4%, the dax up a quarter of a percent. is this a this is where we stand as we wait for the announcements from the ecb....
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are we going to jump over that fiscal cliff? >> i don't think so. i think the president's made an offer and i hope that republicans, responsible republicans will make a counter offer that, you know, that maybe some democrats will say is laughable and then let's get down and talk about trying to meet in the middle somewhere. there's going to have to be revenue increases, there's going to have to be spending cuts and we realize that and that's what the american people voted for in november. so i'm hoping that reason minds on both sides of the aisle may come together and that may be whistling in the dark, based on the past in washington, but i really believe this country, under their elected officials, on beat sides of the aisle understand what the consequences will be. >> and kelly, if we go over the cliff, they'll blame republicans so republicans need to take the argument back and go to the american people and tell the american people what they're offering and need to take a page from obama's play book. >> kelly: okay, stop the insanity and stop doin
are we going to jump over that fiscal cliff? >> i don't think so. i think the president's made an offer and i hope that republicans, responsible republicans will make a counter offer that, you know, that maybe some democrats will say is laughable and then let's get down and talk about trying to meet in the middle somewhere. there's going to have to be revenue increases, there's going to have to be spending cuts and we realize that and that's what the american people voted for in november....
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republicans call the fiscal cliff plan a joke, an insult and break from reality. suffice it to say, it is unacceptable to them. the president's opening round offer includes $1.6 trillion in new taxes, $400 billion in savings from medicare and other entitlement programs, $50 billion in new stimulus spending, and an additional $285 billion to fund depreciation and mortgage programs, unemployment insurance benefits, and payroll tax cuts. >> this extra spending, that's actually greater than the amount they're willing to cut. i mean, it's -- it was not a serious proposal. >> while his aides were on capitol hill offering up the opening bid, the president was making his case in pennsylvania campaign style. >> at the end of the day a clear majority of americans, democrats, republicans, independents, they agreed with a balanced approach. deficit reduction. >> after the president's remarks, i spoke with his main man on the fiscal cliff, treasury secretary tim geithner. >> let me ask you, the reaction to your going up on the hill and saying this is basically the white house
republicans call the fiscal cliff plan a joke, an insult and break from reality. suffice it to say, it is unacceptable to them. the president's opening round offer includes $1.6 trillion in new taxes, $400 billion in savings from medicare and other entitlement programs, $50 billion in new stimulus spending, and an additional $285 billion to fund depreciation and mortgage programs, unemployment insurance benefits, and payroll tax cuts. >> this extra spending, that's actually greater than...
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our country from going off the fiscal cliff." senator republican colleaaues would &plike to seeebudget cuts....or the massive storm clean-up. preporter: "without offsets ii it going to have trouble getting ppssed do you think in this current climate?") "i think it might, i think it might,,you can't predict that." the uncertain fate of thh relief money comes little more thhn a month afterrthat jaw-dropping pre-ellction image of christie and the president... shoulder to shoulder... a time when r. victims... quickly. "i wann you to cut ttrough red tape. i want you to ut through bureaucracy. here's no excuse for inaction at this point." the white houue says the president remains committed. "there is no question as the president saw when he was on staten issand that there is enormoos suffering that pootinues and that's why we are worring closell with psates and localities to continue the effort to assist &pin the recovery." "a top congressional aide tells cnn the administration's prooosal. and a white house official tells cnn... the w
our country from going off the fiscal cliff." senator republican colleaaues would &plike to seeebudget cuts....or the massive storm clean-up. preporter: "without offsets ii it going to have trouble getting ppssed do you think in this current climate?") "i think it might, i think it might,,you can't predict that." the uncertain fate of thh relief money comes little more thhn a month afterrthat jaw-dropping pre-ellction image of christie and the president... shoulder...
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two days after the republican fiscal cliff counter offer, both sides are coming out swings. speaker john boehner defended his proposal this morning, adopting a page from the dem's fairness playbook. >> the revenues we're putting on the table are going to come from, guess who? the rich. closing loopholes, especially on those who are wealthy, is a better way to raise this revenue than raising
two days after the republican fiscal cliff counter offer, both sides are coming out swings. speaker john boehner defended his proposal this morning, adopting a page from the dem's fairness playbook. >> the revenues we're putting on the table are going to come from, guess who? the rich. closing loopholes, especially on those who are wealthy, is a better way to raise this revenue than raising
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fiscal cliff" stepping up phone calls and meetings within the last 24 hours. cbs reporter danielle nottingham is on capitol hill where the two sides are still talking. >>> reporter: president obama dispatched his chief negotiator tim geithner to capitol hill to work on a "fiscal cliff" deal. house speaker john boehner came out of his meeting with the treasury secretary demanding the white house get serious about spending cuts. >> no substantive progress has been made in the talks between the white house and the house over the last two weeks. >> reporter: if a compromise isn't reached soon, automatic tax hikes and steep budget cuts will kick in january 1. geithner moved from one end of the capitol to the other encouraging lawmakers to sign off on an extension of middle class tax cuts now. democrats say their position is clear and they want a serious offer from republicans. >> the american people want us to avoid the "fiscal cliff" with a balanced approach. >> reporter: geithner is here in the halls of congress trying to clear some big hurdles with republicans.
fiscal cliff" stepping up phone calls and meetings within the last 24 hours. cbs reporter danielle nottingham is on capitol hill where the two sides are still talking. >>> reporter: president obama dispatched his chief negotiator tim geithner to capitol hill to work on a "fiscal cliff" deal. house speaker john boehner came out of his meeting with the treasury secretary demanding the white house get serious about spending cuts. >> no substantive progress has been...
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counter plan to avoid that "fiscal cliff." >> rates have to rise and the republicans need to acknowledge that. that's the only way to get from here to there. >> from across the bay to around the world -- >> obviously, you know, we want a family, so, uhm, you know, we have to start thinking about that. >> -- the stories that matter on "eyewitness news this morning." >> your realtime captioner: linda marie macdonald captions by: caption colorado comments@captioncolorado.com >>> good morning, it's tuesday, december 4. i'm michelle griego. >> hi, everyone. i'm frank mallicoat. it is 6:32. a huge pot bust at a home in east san jose. this morning neighbors reported a burglary happening at a home on the 1300 block of sandalwood court. when police got there they found the front door open. they entered the home and discovered an elaborate grow house there. we have live pictures of the house here. in fact, officers say there was no furniture inside the home at all just about 300 pot plants with a street value of $125,000. and because of all the chemicals inside the home, they called the fire depar
counter plan to avoid that "fiscal cliff." >> rates have to rise and the republicans need to acknowledge that. that's the only way to get from here to there. >> from across the bay to around the world -- >> obviously, you know, we want a family, so, uhm, you know, we have to start thinking about that. >> -- the stories that matter on "eyewitness news this morning." >> your realtime captioner: linda marie macdonald captions by: caption colorado...
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jenna: the president's opening bid to avoid the fiscal cliff, already called a none starter by republicans including this $1.6 trillion in new taxes. 400billion in spending cuts, tbd specifically on that. a little extra cash for infrastructure spending, republicans call that stimulus. and a plea for new powers to raise the debt ceiling without having to go directly to congress. joe trippi is howard dean's former campaign manager and a fox news contributor. good to see you this morning. >> good to see you, jenna. jenna: as opening bids go what do you make of that one. >> it makes sense that this is the president's opening bid. republicans ran around saying his only answer is to raise taxes on the rich and play class warfare, and we have a spending problem, not a revenue problem. so if the president says look, i want to raise taxes 1.6 trillion it should be no surprise. if you want to cut spending more put your specific cuts in medicare on the table and let's start having the negotiations. it makes sense to me that he would start low on the spending cuts and let the republicans take the hit,
jenna: the president's opening bid to avoid the fiscal cliff, already called a none starter by republicans including this $1.6 trillion in new taxes. 400billion in spending cuts, tbd specifically on that. a little extra cash for infrastructure spending, republicans call that stimulus. and a plea for new powers to raise the debt ceiling without having to go directly to congress. joe trippi is howard dean's former campaign manager and a fox news contributor. good to see you this morning. >>...
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republicans have taken action to overt the fiscal cliff by passing legislation to stop all the tax hikes. to replace the sequester. and pave way for -- pave the way for tax reform and entitlement reform. and we're the only ones with a balanced plan to protect the economy, protect american jobs and protect the middle class from the fiscal cliff. but without spending cuts and entitlement reform, it will be impossible to address the debt crisis and get our economy going again and create jobs. so right now all eyes are on the white house. the country doesn't need a victory lap. it needs leadership. time for the president, congressional democrats to tell the american people what spending cuts they're really willing to make. with that i'll take a few questions. >> doctor would you not tell democrats what specific spending cuts you would like to see? >> it's been clear over the last year and a half i've talked to the president about many of them. you can look at our budget where we drought line very specific proposals that we passed in last year's budget and the budget in the year before. we kn
republicans have taken action to overt the fiscal cliff by passing legislation to stop all the tax hikes. to replace the sequester. and pave way for -- pave the way for tax reform and entitlement reform. and we're the only ones with a balanced plan to protect the economy, protect american jobs and protect the middle class from the fiscal cliff. but without spending cuts and entitlement reform, it will be impossible to address the debt crisis and get our economy going again and create jobs. so...